ArabFinance: Real Estate Egyptian Consortium (AREH) achieved a net profit after tax of EGP 99.88 million during the first nine months of 2021, up from EGP 11.32 million in the year-ago period, according to the company’s financial statement filed to the Egyptian Exchange (EGX).

Operating revenue amounted to EGP 11.93 million in the January-September period of 2021, down from EGP 19.33 million in the same period of 2020.

In the third quarter (Q3) of 2021, the company’s net profit after tax reached EGP 89.05 million from EGP 2.26 million in Q3 2020.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector. The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, housing complexes, among others.